Galaxy Air, previously a no-growth firm, has two million shares outstanding. Until now, it consistently earned $20 million per year on its assets. (It has no debt and pays out all earnings as dividends. Its cost of capital is 10%.) Due to its newly appointed CEO, Galaxy Air is now able to squeeze out 1% annual growth by plowing back 5% of earnings. Calculate its stock price per share.

		$200.00
		$106.61
		$100.00
		$110.10